Mining For Magnesium

Every hot rodder has heard stories about unlucky sellers who “didn’t know what they had” and priced something way too cheap. This situation is great if you’re on the receiving end of the deal, but if you’re the guy letting go of his vintage speed parts for next to nothing, you’re missing out on a big market. When shopping or selling racing wheels, it’s hard to go wrong with anything magnesium. However, knowing how to identify these artifacts is critical to making the best deal.

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Swap meets offer great opportunities to examine and research old rims, but they may not be the best places to actually buy them. Generally, if a vendor has laid out a full set or pair of magnesium wheels, he’ll be asking for top dollar—but it never hurts to ask. It’s all about being at the right place at the right time with the right knowledge. Just such an instance occurred last year at a small meet in Tennessee featuring drag race components (modern-day stuff). We came upon a set of nasty-looking wheels and tires. After inspecting them closely and finding them flawless, we feared the worst, pricewise. It was time to ask the most important question of the day: “How much?” The vendor’s answer shocked us speechless. “The wheels would probably clean up pretty good, and the tires still have a lot of passes left on ’em,” he said, hopefully. “Three hundred bucks.” The tires were super-rare M&H Racemaster 7.60-15 pie-crust slicks, so we knew the guy was clueless. We made a lowball offer, just to see how low he’d go. When he counteroffered $250, we quickly forked over the dough. The flawless M&Hs were worth that alone, so we snagged what turned out to be mid-’50s Romeo Palamides magnesium wheels for free!

The key to making such a score is knowing your stuff when the time comes. If the opportunity presents itself, you have to be quick to react or the super deal will be gone before you can take time to research the part. If you’re unsure of a particular wheel, you may pass on it, only to eventually learn that it was a valuable piece. Knowing how to identify and value vintage racing wheels also helps when you’re on the selling end. Pricing them too cheaply might result in a quick sale, but you’ll be kicking yourself for years to come. This is a common regret of rodders and racers who virtually gave away their “outdated” magnesium wheels from the ’70s and ’80s.

The biggest players in the mag-wheel game were Halibrand Engineering and American Racing Equipment. Lots of other manufacturers appeared as the aftermarket industry expanded in the ’60s, but none of the latecomers compare to the legacies created by the big two. Read along as we briefly highlight the histories of these two major players and showcase some tricks to identifying their valuable products.